KT - Kinetics Technology Finalizes Acquisition of APS Evolution

Business Strategy KT - Kinetics Technology Finalizes Acquisition of APS Evolution

2024-07-31 Source: Press release Maire 2 min Reading Time

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With this acquisition, Maire has plans to expand its engineering capacity by adding a multidisciplinary team of around 290 experts in different fields, such as process, automation, mechanical, piping, electrical, and civil engineering.

Maire informs that KT - Kinetics Technology has finalized the acquisition of the entire share capital of APS Evolution.(Source: Pixabay) — Maire informs that KT - Kinetics Technology has finalized the acquisition of the entire share capital of APS Evolution.
(Source: Pixabay)

Milan/Italy – Further to the announcement made on 22 May 2024, Maire (Maire.MI) informs that KT - Kinetics Technology (Integrated E&C Solutions) has finalized the acquisition of the entire share capital of APS Evolution.

APS Evolution is the parent company of Italy-based APS Designing Energy and Poland-based KTI Poland, two engineering firms which boast a solid international reputation in the execution of projects for the conversion of natural resources (downstream petrochemical segment), with a specific focus on innovative rubbers, as well as in green chemistry, such as biofuels and bioplastics. As of 30 June 2024, the companies generated total revenues of 61.7 million euros and backlog was 137.3 million euros.

This acquisition will enable Maire to expand its engineering capacity by adding a multidisciplinary team of around 290 experts in different fields, such as process, automation, mechanical, piping, electrical, and civil engineering. Additionally, the takeover of KTI Poland will enhance Maire’s footprint in Eastern Europe, bringing new opportunities and prospects, especially in the upgrading of existing plants.

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The agreement provides for an overall cash consideration of approximately 7.7 million euros, of which approximately 1.2 million euros were paid recently, and 6.5 million euros in four instalments due within 2030.

Alessandro Bernini, Maire CEO, commented: “This acquisition will support the Group’s expected growth in the coming years with highly skilled professionals. The decarbonization of the industry is a key factor in achieving the European Green Deal objectives and we are eager to contribute with our technological and engineering know-how to a more sustainable economy.”

APS Evolution has been advised by Studio Tributario e Legale Bianchi of Rome, while Maire has been supported by its internal M&A, Legal and Corporate Affairs and Governance teams.

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